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The selling of Big Pink

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Sunday, June 01, 2008

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PORTLAND It may not quite be Oregon’s tallest building, but the U.S. Bancorp Tower is definitely the pinkest, and it’s available.

The 536-foot, 43-floor skyscraper’s light-reflecting mix of granite and glass has served as a centerpiece to the Portland skyline since 1983. Now JPMorgan has put the tower up for sale for an undisclosed price two years after purchasing it for $280 million.

It remains to be seen whether Big Pink will sell quickly. 2007 was a record year for out-of-state investment in Portland commercial real estate, but the market may have peaked when JPMorgan paid a record $380 per square foot last July for the Brewery Blocks.



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